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GROWTH ENVIRONMENTAL, INC. RECEIVES OFFERING PROCEEDS AND ANNOUNCES 3RD QUARTER PRELIMINARY RESULTS

 WESTMONT, Ill., Nov. 22 /PRNewswire/ -- Growth Environmental, Inc. announced the receipt of proceeds from its recent (Nov. 10, 1993) public common stock offering of 1,850,000 shares at $3.25 per share. The proceeds will be used for repayment of debt, capital expenditures, working capital and acquisitions.
 The company also reported preliminary results for the third quarter. Revenues were $2,146,000 and net income attributable to common stock was $105,000, or $0.04 per share on a fully diluted basis. The per share calculation does not include the 1,850,000 shares from the Nov. 10, 1993 offering.
 Alvin K. Eaton, CEO of Growth Environmental, Inc. is "delighted that the offering has positioned Growth to further implement its strategy for acquisition and internal growth in the environmental services industry."
 Growth Environmental, Inc. is an Illinois-based company providing environmental consulting, engineering, remediation and analytical services to commercial and industrial clients in Michigan, Illinois, Indiana, Ohio, Louisiana, California, Texas and New York.
 -0- 11/22/93
 /CONTACT: Alvin K. Eaton, CEO of Growth Environmental, Inc., 708-986-8522/


CO: Growth Environmental, Inc. ST: Illinois IN: ENV SU: ERN OFR

TM -- NY096 -- 7009 11/22/93 17:46 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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